Attracting new customers to your retail store is important, but it is arguably more cost-effective to keep the ones you already have. According to business relationship strategist Ian Kingwill, it may cost between 4 and 10 times more to gain a new customer than to retain an existing one. It makes good business sense to focus your efforts on building a relationship with your shoppers that encourages warm feelings and brand loyalty.
Retaining customers should be a primary goal of your retail business. These keys to success will help you build customer loyalty:
1. Build familiarity
Loyalty is partly inspired by familiarity. Think of the feeling you get when returning home after a long absence: Your favorite chair is waiting for you, your bed feels comfy and you can completely relax. Familiarity in the retail space means making your brand recognizable and approachable, reported Larry Alton, writing for Entrepreneur Magazine.
Using a cohesive color palette in your retail design plan is an easy way to build familiarity. If you’ve adopted a signature color for your store logo and website, you can make use of our C3 custom color mannequins to add pops of that familiar color throughout your shop.
2. Develop a customer loyalty program
There are many different ways to implement a customer loyalty program. For retailers, it could be something simple, such as having presale opportunities for social media followers. Alternatively, you could develop a points reward system for purchases made in-store or through your online shop.
Social Media Examiner noted that loyalty programs not only help you retain customers, they can also turn loyal shoppers into brand advocates. For instance, members of your loyalty program may be inclined to tell their friends about the opportunity. Word of mouth can be an excellent way to cement your brand presence in the local marketplace.
3. Express your gratitude
Show your loyal customers some love by saying thank you. You can do this by sending out a message of gratitude on your social media pages or in a newsletter. A simple appreciation message reminds customers of your store without being a direct advertisement. For something a little sweeter, hand out treats in a tin tie bag. Customers can grab one on their way out of the shop and have a delicious reminder of your store that they won’t soon forget. Building customer loyalty will keep your store full of smiling, satisfied shoppers. Build familiarity, give rewards and always remember to say thanks!